SouthState Co. (NASDAQ:SSB) Shares Sold by Strs Ohio

Strs Ohio lowered its position in shares of SouthState Co. (NASDAQ:SSBGet Rating) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,800 shares of the bank’s stock after selling 900 shares during the quarter. Strs Ohio owned approximately 0.17% of SouthState worth $10,111,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. increased its holdings in shares of SouthState by 175.1% in the second quarter. Russell Investments Group Ltd. now owns 72,631 shares of the bank’s stock valued at $5,602,000 after purchasing an additional 46,234 shares during the last quarter. Moody National Bank Trust Division acquired a new stake in shares of SouthState in the third quarter valued at approximately $291,000. Xponance Inc. increased its holdings in shares of SouthState by 11.2% in the second quarter. Xponance Inc. now owns 4,071 shares of the bank’s stock valued at $314,000 after purchasing an additional 411 shares during the last quarter. Trust Co. of Vermont acquired a new stake in shares of SouthState in the second quarter valued at approximately $50,000. Finally, TIAA FSB acquired a new stake in shares of SouthState in the second quarter valued at approximately $477,000. Institutional investors and hedge funds own 80.28% of the company’s stock.

SouthState Trading Up 4.3 %

NASDAQ:SSB opened at $80.04 on Monday. The firm has a market cap of $6.06 billion, a PE ratio of 12.85 and a beta of 0.81. The stock has a fifty day moving average price of $82.59 and a 200 day moving average price of $81.77. SouthState Co. has a 12-month low of $72.25 and a 12-month high of $93.34. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.04.

SouthState (NASDAQ:SSBGet Rating) last released its earnings results on Monday, October 24th. The bank reported $1.89 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.89. The firm had revenue of $435.39 million during the quarter, compared to analyst estimates of $425.77 million. SouthState had a return on equity of 10.05% and a net margin of 29.04%. During the same period last year, the business posted $1.94 earnings per share. Sell-side analysts anticipate that SouthState Co. will post 7.21 earnings per share for the current fiscal year.

SouthState Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Friday, November 11th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date was Wednesday, November 9th. SouthState’s dividend payout ratio (DPR) is 32.10%.

Insiders Place Their Bets

In other SouthState news, insider Douglas Lloyd Williams sold 2,600 shares of SouthState stock in a transaction dated Thursday, October 20th. The stock was sold at an average price of $88.23, for a total transaction of $229,398.00. Following the completion of the sale, the insider now directly owns 30,719 shares of the company’s stock, valued at approximately $2,710,337.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other SouthState news, insider Douglas Lloyd Williams sold 2,600 shares of SouthState stock in a transaction dated Thursday, October 20th. The stock was sold at an average price of $88.23, for a total transaction of $229,398.00. Following the completion of the sale, the insider now directly owns 30,719 shares of the company’s stock, valued at approximately $2,710,337.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director G Ruffner Page, Jr. bought 6,300 shares of the business’s stock in a transaction dated Tuesday, December 13th. The shares were purchased at an average price of $78.94 per share, for a total transaction of $497,322.00. Following the transaction, the director now directly owns 58,935 shares of the company’s stock, valued at approximately $4,652,328.90. The disclosure for this purchase can be found here. Insiders sold 41,549 shares of company stock valued at $3,635,883 in the last ninety days. Insiders own 1.88% of the company’s stock.

Wall Street Analysts Forecast Growth

SSB has been the subject of several recent analyst reports. Piper Sandler raised SouthState from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $92.00 to $96.00 in a research note on Wednesday, September 28th. Truist Financial cut their target price on SouthState from $103.00 to $96.00 in a research note on Friday, December 9th. Raymond James raised their target price on SouthState from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 26th. Finally, StockNews.com began coverage on SouthState in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, SouthState presently has a consensus rating of “Moderate Buy” and an average price target of $94.25.

SouthState Company Profile

(Get Rating)

SouthState Corporation operates as the bank holding company for SouthState Bank, National Association that provides a range of banking services and products to individuals and companies. It accepts checking accounts, savings deposits, interest-bearing transaction accounts, certificates of deposits, money market accounts, and other time deposits.

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Institutional Ownership by Quarter for SouthState (NASDAQ:SSB)

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